William S. Burroughs is one of the first to coin the now very popular phrase, ““When you stop growing you start dying.”
Though, there are many tough lesson learned as a business owner, this is one of the first, and probably most important. We recognize that it is hard to fill a bucket with a hole in the bottom, and its impossible to grow your agency without keeping your current clients on the book. But, you still have to keep filling that bucket.
Gaining new prospects and building your marketing system is a never ending process, which should including multiple lines and systems. Many agents forget about one of the oldest prospecting systems: making your products work for you. However, it is hard to catch anyone’s attention with a Medicare Supplement, and rules towards marketing Medica
re Advantage make it impossible to gain new prospects. That is why we recommend using a unique product like Home Health Care to get products into more homes.
But, how does it work?
- Referrals: Its been said before, but its worth repeating. Offering a home health care policy that offers security to recover at home AND includes a prescription drug benefit up to $600 will get your clients talking. Presenting this product to your clients is a valuable service, that your competition is not doing and makes their appointment notable. They won’t hesitate to tell their friends about their new plan that paid them to recover at home or reimbursed them for their drugs!
- Prospecting All Year Round: How frustrating is it to come across a prospect that has a Medicare Supplement Plan that doesn’t necessarily need replaced? Or, a prospect that wants to use your agency, but has to wait for the Annual Enrollment Period to switch Medicare Advantage Plans? Home health care policies can be sold all year long no matter what the client’s situation is. Get them in your system and show off your agency. When the AEP rolls around, or they see a rate increase in their Medicare Supplement, it is time to make your move to take over all the policies in their home.
- People Who Need the Help the Most: Unfortunately, many people don’t realize that they need additional health financial coverage until after they are already sick. Then, you as the agent had to be the bearer of bad news to tell them there is little you can do for them in regards to protecting their finances. Now, you can break out your superhero cape and get them a policy that will allow them to recover at home. Both GTL and Kemper’s home health care policies are ALMOST guaranteed issue. As long as the beneficiary is able to do their acts of daily living, and not receiving this type of care, they can receive the policy. There is a 6 month waiting period for pre-existing conditions, but it is a foot in the door and a way to help someone in need.
- Potential Caregivers: On a national average, the most common caregiver is a woman in her mid to late forties, typically taking care of her older parents. You can get into their home by offering coverage to help alleviate the emotional and financial stress of their parents healthcare. Often times, beneficiaries will not buy the policy for themselves, but their children often see the value. This gets you into an additional home, with a great chance of you receiving referrals to their parents.
Make the products in your portfolio work hard for you.
Olivia Richardson
Director of Training and Education